Optical Cable (NASDAQ:OCC) Lowered to Hold Rating by Wall Street Zen

Optical Cable (NASDAQ:OCC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Optical Cable Trading Down 8.6%

NASDAQ:OCC opened at $14.41 on Friday. Optical Cable has a 52 week low of $4.02 and a 52 week high of $27.98. The firm has a 50-day moving average price of $16.71 and a two-hundred day moving average price of $10.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 2.08. The firm has a market cap of $127.24 million, a price-to-earnings ratio of 120.09 and a beta of 0.54.

Optical Cable (NASDAQ:OCC) last announced its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. The firm had revenue of $22.21 million for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.During the same quarter in the previous year, the firm earned ($0.09) EPS.

Insider Buying and Selling

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of Optical Cable stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $17.23, for a total value of $283,485.19. Following the sale, the chief financial officer owned 329,826 shares of the company’s stock, valued at approximately $5,682,901.98. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Optical Cable

Several large investors have recently modified their holdings of the stock. Shikiar Asset Management Inc. raised its holdings in shares of Optical Cable by 14.4% in the 1st quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock worth $232,000 after purchasing an additional 3,550 shares during the period. Dimensional Fund Advisors LP grew its holdings in Optical Cable by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock valued at $1,197,000 after purchasing an additional 4,497 shares during the period. Royal Bank of Canada grew its holdings in Optical Cable by 8.3% during the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after purchasing an additional 9,535 shares during the period. State Street Corp increased its position in Optical Cable by 37.4% in the fourth quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock worth $164,000 after buying an additional 10,000 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Optical Cable in the third quarter worth $102,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Company Profile

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.